Over the past month, oil prices have trended down. Prices closed at $81.54 on June 28th. On July 4th, prices hit a high of $83.88. From there, prices have fallen to a low of $78.64 on July 19th.
The July 19th Baker Hughes rig count report shows a continuing decline in the active rig count. Baker Hughes reports 586 active drilling rigs in the US. One month ago, the total active rig count was 588. One year ago, the total active rig count was 669.
The oil rig count is currently 477 rigs, compared to 485 one month ago and 530 one year ago. The gas rig count is 103, compared to 98 one month ago and 131 last July.
July 2024 Rig Count by Shale*
In the major plays, the Permian Basin rig count is at 305 rigs, down 3 from the June count.
In east Texas, the Eagle Ford has 49 active rigs, 1 less than in June.
The Haynesville rig count is 35 rigs, down 1 from last month.
The Anadarko rig count is 33 rigs, 2 down from June.
The active rig count in the Niobrara is 25 rigs, the same as last month.
The Williston Basin rig count is 35 rigs, the same as the June count.
The Appalachian has 37 active rigs, 1 more than last month.
July 2024 Rig Count by State*
*Data from July 2024, Baker Hughes Report.
| Bakken Region Total: 35 Montana: 1 North Dakota: 34 | Rocky Mountain Total: 146 Colorado: 14 New Mexico: 108 Utah: 13 Wyoming: 11 | Central Plains Total: 33 Oklahoma: 33 Kansas: 0 Arkansas: 0 |
| Gulf States Total: 42 Alabama: 0 Louisiana: 42 Mississippi: 0 | Texas Total: 276 | Appalachian Total: 37 Ohio: 11 Pennsylvania: 21 West Virginia: 5 |
For more detailed news and information on the oil industry, please visit our oilfield news and information page.
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